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Showing 991 - 1000 of 4068 results for "PAI"

AMP flags recovery, profit jumps

KARREN VERGARA  |  THURSDAY, 12 AUG 2021
AMP's 57% year-on-year jump in its half-year profit shows positive signs of recovery but it's still a far cry from the company it was four years ago. In the six months to June, the group's underlying net profit after tax hit $181 million ...

EQT ups bid for Iress

ANNABELLE DICKSON  |  WEDNESDAY, 11 AUG 2021
EQT Fund Management increased its takeover bid for Iress and made allowances for an interim dividend for shareholders. EQT upped its bid from $15.75 per Iress share to $15.91 plus a dividend of 16 cents per share. In its two previous bids, EQT did not ...

Westpac tops fee-for-no-service misconduct

KARREN VERGARA  |  THURSDAY, 5 AUG 2021
Westpac tops the charts for fee-for-no-service misconduct at $578.4 million, according to the corporate regulator. More than 71,400 Westpac customers have been affected by its failings to provide ongoing financial advice services that was promised. ...

Super, fund manager ASX dominance launches inquiry

KARREN VERGARA  |  MONDAY, 2 AUG 2021
Member of Parliament Tim Wilson will lead the charge to determine if big super's domination over the Australian sharemarket is stifling competition. This morning, the House of Representatives Standing Committee on Economics announced the launch ...

AFCA weeds out phony complaints

ELIZABETH MCARTHUR  |  FRIDAY, 30 JUL 2021
The Australian Financial Complaints Authority (AFCA) has made changes to its procedures to weed out complaints where the consumer didn't really suffer any financial harm. AFCA received feedback from financial institutions, particularly small to medium ...

AMP sued over corporate super misconduct

JAMIE WILLIAMSON  |  FRIDAY, 30 JUL 2021
ASIC is suing several AMP entities over fees for no service charged on corporate superannuation accounts. The regulator has commenced civil proceedings in the Federal Court against six companies that are, or were at the time of the conduct, part of ...

Broken advice industry shuns everyday Aussies: AFA

KARREN VERGARA, ANNABELLE DICKSON  |  THURSDAY, 29 JUL 2021
The alarming rate that financial advice is increasingly becoming unaffordable for everyday Australians further cements the position of the rich and powerful, an inquiry heard this morning. The Association of Financial Advisers president Michael Nowak ...

AMP shakes up advice service model

KARREN VERGARA, JAMIE WILLIAMSON  |  MONDAY, 26 JUL 2021
Among the changes announced this morning, AMP is putting an end to all Buyer of Last Resort (BOLR) arrangements at the end of the year and giving advisers the freedom to leave the network with their clients from 2022. As part of a new service model ...

Economic recap: Week to July 23

BENJAMIN ONG  |  MONDAY, 26 JUL 2021
The Delta variant outbreak remained the focus of attention in Australia. The daily case of infections in Greater Sydney surged to 136 on Friday (July 23) - the highest number since the this year's outbreak - prompting the NSW premier Gladys Berejiklian ...

ASIC industry levy to increase

KARREN VERGARA  |  FRIDAY, 23 JUL 2021
Financial advisers will need to fork out an extra 27% to pay the regulator's industry funding levy for the 2021 financial year. Advisers will pay $71.354 million in aggregate or $3138 on a per adviser basis plus a fixed amount of $1500 per licence ...